NZ shares dip on eve of major regulatory decisions
The S&P/NZX 50 Index decreased 18.40 points, or 0.2 percent, 11,209.87. Within the index, 25 stocks fell, 22 rose, and three were unchanged. Turnover was $152.4 million.
Stocks across Asia were generally weaker as investors continued to fret over whether China and the US will reach a trade agreement before the end of the year. Australia’s S&P/ASX 200 Index dropped 1.5 percent in afternoon trading, while Hong Kong’s Hang Seng was down 1.1 percent and Singapore’s Straits Times Index fell 0.7 percent.
The local market has “continued to hold up remarkably well against significant offshore pressure,” said Matt Goodson, managing director at Salt Funds Management.
“After a sharp sell-off the day before, bond yields around the world have rallied very sharply on significant signs of an economic slowdown.”
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